Carvana Co. $CVNA Shares Bought by B. Metzler seel. Sohn & Co. AG

Key Points

• Institutional ownership increased: B. Metzler seel. Sohn & Co. AG raised its Carvana stake by 259.4% to 136,656 shares, while 56.71% of CVNA shares are now held by institutions and hedge funds.
• Carvana reported strong quarterly growth: Revenue rose 52.4% year over year to $7.38 billion, and earnings of $0.42 per share exceeded analyst expectations of $0.39.
• Analysts remain broadly bullish: Carvana has a “Moderate Buy” consensus rating and an average price target of $84.14, compared with shares opening at $74.19; insiders have nevertheless sold $20.4 million of stock over the past three months.

B. Metzler seel. Sohn & Co. AG raised its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 259.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,656 shares of the company's stock after buying an additional 98,636 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Carvana were worth $8,995,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. State Street Corp lifted its stake in Carvana by 93.7% in the 4th quarter. State Street Corp now owns 5,714,779 shares of the company's stock worth $2,411,751,000 after purchasing an additional 2,764,759 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Carvana by 345.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company's stock valued at $218,867,000 after purchasing an additional 2,579,295 shares in the last quarter. Capital Research Global Investors grew its position in shares of Carvana by 42.9% in the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company's stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Carvana by 372.0% in the second quarter. Bank of America Corp DE now owns 1,791,844 shares of the company's stock valued at $117,939,000 after purchasing an additional 1,412,188 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Carvana by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company's stock valued at $7,481,081,000 after purchasing an additional 1,407,762 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Performance

Shares of CVNA stock opened at $74.19 on Thursday. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. The firm's 50 day moving average price is $68.51 and its 200-day moving average price is $68.24. The firm has a market cap of $81.64 billion, a P/E ratio of 41.04, a P/E/G ratio of 2.08 and a beta of 3.49.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company had revenue of $7.38 billion for the quarter, compared to analysts' expectations of $6.90 billion. During the same period in the prior year, the firm earned $1.51 earnings per share. The firm's revenue was up 52.4% compared to the same quarter last year. As a group, equities research analysts predict that Carvana Co. will post 1.68 EPS for the current year.

Insider Activity at Carvana

In other news, Director J Danforth Quayle sold 14,525 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $75.00, for a total transaction of $1,089,375.00. Following the sale, the director owned 214,960 shares of the company's stock, valued at approximately $16,122,000. This represents a 6.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Benjamin E. Huston sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $64.50, for a total transaction of $3,225,000.00. Following the completion of the transaction, the chief operating officer directly owned 535,709 shares of the company's stock, valued at approximately $34,553,230.50. The trade was a 8.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 302,147 shares of company stock valued at $20,418,064. 15.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

CVNA has been the topic of a number of analyst reports. BTIG Research reiterated a "buy" rating and set a $87.00 price objective on shares of Carvana in a research report on Tuesday, August 18th. DA Davidson set a $67.00 target price on Carvana in a research note on Thursday, July 30th. Jefferies Financial Group cut their target price on Carvana from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday, July 14th. UBS Group reiterated a "buy" rating and set a $83.00 price target on shares of Carvana in a report on Friday, July 31st. Finally, Needham & Company LLC reissued a "buy" rating and set a $120.00 price target on shares of Carvana in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $84.14.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana's model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.

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